Mesirow Financial Investment Management Inc. Sells 1,171 Shares of Ameriprise Financial, Inc. $AMP

Mesirow Financial Investment Management Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,150 shares of the financial services provider’s stock after selling 1,171 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Ameriprise Financial were worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMP. Holos Integrated Wealth LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 3rd quarter valued at $32,000. Ares Financial Consulting LLC bought a new stake in Ameriprise Financial in the 4th quarter valued at $32,000. WFA of San Diego LLC bought a new stake in Ameriprise Financial in the 2nd quarter valued at $36,000. Finally, Activest Wealth Management increased its holdings in Ameriprise Financial by 777.8% in the 4th quarter. Activest Wealth Management now owns 79 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of Ameriprise Financial stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. The trade was a 16.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $470.53 on Friday. Ameriprise Financial, Inc. has a 12 month low of $422.37 and a 12 month high of $550.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $454.50 and a 200 day moving average price of $473.67. The stock has a market cap of $42.30 billion, a PE ratio of 11.70, a P/E/G ratio of 1.12 and a beta of 1.20.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company earned $9.50 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 42.44 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. BMO Capital Markets lifted their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $543.22.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.